Millrock Resources plans to raise up to CA$1.6 billion through a non-brokered private placement of up to 6.4 billion units priced at CA$0.25 per unit. Each unit consists of one common share and one share purchase warrant.
Azure Minerals provided an update on its flagship project, Oposura, in the northern Mexican state of Sonora. As of mid-October, the company has completed 51 of its 120 planned drill holes.
Candelaria Mining proposed a warrant extension of 12 months for a total of 12.6 million outstanding share purchase warrants. The extension is subject to the acceptance of the TSX Venture Exchange.
Primero Mining announced an agreement with its lenders to extend its revolving credit facility to Dec. 15, 2017 from Dec. 1, 2017. This will allow the company to continue its previously announced strategic review process and the possible divestment of its San Dimas mine.
The CEO of Codelco, the world’s biggest copper producer, ends his term next year. The Chilean giant’s chairman stated that his role should be reappointed for a few more years to stabilize spending and cost-cutting strategies in the company.
A small Israeli gold company decided six weeks ago to change its focus to blockchain and cryptocurrencies and its stocks rose 1,300 percent. Natural Resource Holdings made the switch by acquiring a Canadian bitcoin mining farm and is in negotiations to buy shared in BACKBONE Hosting Solutions.
Germany announced the closure of its last coal mine as the country transitions toward clean energy.
Authorities in Australia plan to prohibit open-pit mining in South Drayton area. This is pushing Hunter Valley to potentially build an underground operation.